BMO Capital Markets Reaffirms “Market Perform” Rating for H&R Block, Inc. (HRB)

BMO Capital Markets reissued their market perform rating on shares of H&R Block, Inc. (NYSE:HRB) in a report published on Thursday morning. The brokerage currently has a $31.00 target price on the stock.

HRB has been the subject of a number of other research reports. Zacks Investment Research upgraded H&R Block from a hold rating to a buy rating and set a $29.00 price objective for the company in a report on Wednesday, May 24th. Northcoast Research restated a neutral rating on shares of H&R Block in a report on Wednesday. BidaskClub cut H&R Block from a buy rating to a hold rating in a report on Wednesday, August 23rd. BTIG Research restated a sell rating and set a $19.00 price objective on shares of H&R Block in a report on Tuesday, August 29th. Finally, Barrington Research boosted their price objective on H&R Block from $28.00 to $32.00 and gave the stock an outperform rating in a report on Monday, June 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. H&R Block currently has an average rating of Hold and a consensus price target of $27.71.

H&R Block (HRB) traded up 0.11% during trading on Thursday, reaching $26.77. The company’s stock had a trading volume of 3,595,577 shares. H&R Block has a 52-week low of $19.85 and a 52-week high of $31.80. The firm’s 50-day moving average is $30.01 and its 200-day moving average is $26.54. The stock has a market cap of $5.57 billion, a P/E ratio of 14.12 and a beta of 0.57.

H&R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, August 29th. The company reported ($0.62) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.62). H&R Block had a negative return on equity of 101.42% and a net margin of 13.19%. The company had revenue of $138 million during the quarter, compared to analysts’ expectations of $129.33 million. During the same quarter in the previous year, the company posted ($0.56) earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts forecast that H&R Block will post $1.97 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.59%. H&R Block’s payout ratio is 49.48%.

In other news, insider William C. Cobb sold 387,740 shares of H&R Block stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $31.19, for a total value of $12,093,610.60. Following the completion of the sale, the insider now directly owns 658,463 shares in the company, valued at $20,537,460.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William C. Cobb sold 750,000 shares of H&R Block stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $30.40, for a total transaction of $22,800,000.00. Following the completion of the sale, the insider now owns 1,301,458 shares of the company’s stock, valued at $39,564,323.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,473,471 shares of company stock valued at $45,309,203. 0.63% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its position in H&R Block by 24.1% during the first quarter. Daiwa Securities Group Inc. now owns 6,700 shares of the company’s stock valued at $156,000 after purchasing an additional 1,300 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in H&R Block by 79.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 19,997 shares of the company’s stock valued at $479,000 after purchasing an additional 8,843 shares in the last quarter. American Century Companies Inc. acquired a new position in H&R Block during the first quarter valued at approximately $505,000. LSV Asset Management raised its position in H&R Block by 159.4% during the first quarter. LSV Asset Management now owns 102,200 shares of the company’s stock valued at $2,376,000 after purchasing an additional 62,800 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in H&R Block by 3.5% during the first quarter. Eqis Capital Management Inc. now owns 19,323 shares of the company’s stock valued at $449,000 after purchasing an additional 657 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

H&R Block Company Profile

H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.

Analyst Recommendations for H&R Block (NYSE:HRB)




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